Property tax exemption allowed for certain leased land.

HF 1698 amends Minnesota property tax law to expand exemptions for certain leased land. It adds new exemptions allowing nonprofit conservation organizations to lease land for grazing activities without triggering property taxes, and clarifies that airport hangars used for aviation services (not for general business) remain tax-exempt. The bill directly affects nonprofit groups leasing land for conservation and airport operators leasing hangars for aircraft services. These changes take effect for property taxes due in 2026. The bill does not create new taxes but modifies existing exemption rules.